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Sri Lanka in negotiations for Indian rupee swap from RBI
Indian currency
Dr.G.R.Balakrishnan Mar 27 2023 Exim News

Sri Lanka in negotiations for Indian rupee swap from RBI

Though the amount is still uncertain, it is said it could be up to the equivalent of US$ 1 billion

This is expected to facilitate Sri Lanka-India trade,” former Central Bank Governor and senior economist Dr. Indrajith Coomaraswamy told an expert panel discussion organised by the Centre for Banking Studies of the Central Bank, yesterday (26 March).

Commenting on the possible inflows from China, which is by far the country’s largest bilateral creditor, he noted that the government mainly expects foreign direct investments from China for the Chinese-funded mega projects such as Colombo Port City.

He stressed the relationship with both India and China would be critical for the economic recovery of Sri Lanka